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Proceeds from the public issue will be used for financing the project cost towards capacity expansion and backward integration for manufacturing of hollow pipes, to meet working capital requirements and for general corporate purposes.

​Demand for financial products is likely to rise, particularly in tier 2-3 cities, as financial literacy, cellphone penetration, increased awareness, and the creation of Jan Dhan bank accounts increase.

According to reports, the polyester segment reported a 61 per cent jump in revenue to Rs 455.52 crore in Q4 FY22 over Q4 FY21.

Following the development, shares of CarTrade Technologies tumbled about 10 per cent to Rs 573.50, before trading at Rs 589.55 at 9.50 am. The scrip had settled at Rs 636.10 on Wednesday.

A total of 3,941 shares changed hands on the counter till 11:57AM (IST)

Solar Industries India, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 27386.36 crore) operating in Chemicals sector.

Dwarikesh Sugar’s share price has gone up 154% in the last five years. ICICIDirect expects 2x increase in distillery volumes to boost earnings with CAGR of 30.7% during FY22-24E. It maintains BUY rating on the stock and values it at Rs 145, valuing the business at 10x FY24 PE.

As impact of tea commodity inflation was largely over by 1HFY22, Tata Consumer Products (TCPL) has continued to report strong improvement in profitability, as expected. That said, Beverages and Foods volume growth of +3% and -1% appears underwhelming, not entirely surprising though, ICICI Securities said.

According to data from AceEquity, Nifty50 index has delivered negative returns in Covid-19 hit 2020 and, prior to that in 2012. On the other eight occasions, the NSE barometer has ended the month on a positive note.

“We are looking at another 100 bps of rate hikes which will take the terminal repo rate to 5.4% in FY24. As far as inflation goes, we are around 6% average for this year. It is not so much inflation as the fact that the rates are too low. That is why there are negative real rates and once the Fed starts to hike, all emerging market central banks including the RBI have to follow suit.”